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Every year, more than 50 million new and small businesses worldwide shutdown.
Evidently, the shutdown rate is staggeringly high.
Descriptive analysis based on 1,000 shuttered companies
125 unique reasons for shutdown
Pie chart is only showing top 10 reasons for shutdown (total 49%) while the remaining 51% are hidden
Top 10 reasons why companies shut down
strong competition - 9.1% (91) poor business model - 6.7% (67) lack of funds - 5.8% (58) no product-market fit - 5.0% (50) failed fundraising - 4.3% (43) failed acquisition (takeover) - 4.0% (40) acqui-hire - 3.8% (38) poor product-market fit - 3.8% (38) acquired - 3.6% (36) covid-19 pandemic - 2.9% (29)
We use advanced analytics to draw unique insights from unstructured business failure data.
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